Results 26,241-26,260 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Avoidance (21 Mar 2017)

Michael Noonan: I propose to take Questions Nos. 192 to 197, inclusive, together. Taxpayers are entitled to structure their businesses and undertake their business activities in the most tax efficient manner permitted by the law. Where taxpayers minimise their tax liabilities or, as is alleged in the case of the poultry sector, use the interaction of the flat-rate scheme for farmers and the normal VAT...

Written Answers — Department of Finance: Mortgage Interest Rates (21 Mar 2017)

Michael Noonan: I have received the following responses to the Deputy's Question, from AIB and PTSB: AIB "AIB s approach to Mortgage pricing has been to pass on pricing reductions to both new and existing customers ensuring existing customers are treated fairly. In a very small number of circumstances the bank may provide a rate outside the advertised rates where there is a compelling justification to do so...

Written Answers — Department of Finance: Property Tax (21 Mar 2017)

Michael Noonan: Where a taxpayer is due a refund of tax, Revenue is entitled under the Taxes Consolidation Act 1997 to offset the refund amount or a portion thereof to satisfy any outstanding tax debt, including Local Property Tax (LPT). Where a property owner has a functioning payment plan in place for example, direct debit, deduction from salary/pension or single debit authority (SDA) then the refund...

Written Answers — Department of Finance: Public Sector Staff Remuneration (21 Mar 2017)

Michael Noonan: In response to the Deputy's query, I have been advised by the 18 bodies under the aegis of my Department  that no public servant that is a member of a State Board or agency under the control of my department is currently in receipt of remuneration in the form of board fees. I am advised that one serving member of the board of ReBo received board fees in error in 2013...

Written Answers — Department of Finance: Legislative Programme (21 Mar 2017)

Michael Noonan: As stated in Budget 2017, I intend to introduce a tax on sugar sweetened drinks in April 2018 to coincide with the introduction of a similar tax in the UK.   An examination of the proposed tax, including estimates of projected yields, are contained in the excise Tax Strategy Group paper (TSG 16/02) which is available on my Department's...

Written Answers — Department of Finance: Fiscal Data (21 Mar 2017)

Michael Noonan: I propose to take Questions Nos. 202, 204 and 216 together. As the Deputy will be aware, estimates of gross debt, net debt and the deficit were published by my Department in the documentation accompanying the 2017 Budget last October. Updated figures are being prepared by the Central Statistics Office (CSO), in cooperation with my Department. This will be transmitted to Eurostat...

Written Answers — Department of Finance: Fiscal Data (21 Mar 2017)

Michael Noonan: Estimates of the gross and net fiscal space for the period 2018 to 2020 can be found in Table A7 Annex 2 of the Budget 2017 book.  For convenience, the gross and net fiscal space for the period 2018 to 2020 are set out below. € billions 2018 2019 Gross Fiscal Space 1.8 3.2 Net Fiscal Space 1.2 2.7 The calculation of the fiscal space depends on a number of...

Written Answers — Department of Finance: Fiscal Data (21 Mar 2017)

Michael Noonan: The most recent published figures on the EU Budget relate to the financial year 2015 and are available in the Budget Statistics bulletin on the Department of Finance's website. According to the bulletin in 2015 Ireland contributed c. €1,952 million to the EU budget while receiving €1,770m in public sector receipts (€1,919m when including direct...

Written Answers — Department of Finance: Tax Avoidance (21 Mar 2017)

Michael Noonan: The Deputy will be aware that the Revenue Commissioners brought to the attention of my Department that the interaction of the flat rate scheme for farmers and the normal VAT system was being exploited in a particular agricultural sector to achieve overcompensation for flat rate farmers on their VAT input costs.  To address the issue I introduced a legislative measure in Finance Act 2016,...

Written Answers — Department of Finance: Stability Programme Data (21 Mar 2017)

Michael Noonan: In accordance with the requirements of Regulation 1466/97, Ireland's 2017 Stability Programme Update must be submitted to the European Commission no later than the end of April.  It is normally published at the same time. The Stability Programme Update (SPU) must, of course, be approved by the Government before it is submitted to the Commission. It has been the practice in...

Written Answers — Department of Finance: Revenue Commissioners Enforcement Activity (21 Mar 2017)

Michael Noonan: I propose to take Questions Nos. 208 to 210, inclusive, together. It is an offence, under section 1078(2)(a) of the Taxes Consolidation Act 1997, to knowingly or wilfully deliver an incorrect return, statement or accounts or knowingly or wilfully furnish any incorrect information in connection with any return. I am advised by Revenue that their records relating to prosecutions are not...

Written Answers — Department of Finance: Tax Reliefs Data (21 Mar 2017)

Michael Noonan: Mortgage Interest Relief (MIR) is paid by way of tax relief at source (TRS) and is administered through the relevant lending institutions. I am advised by Revenue that the MIR database is not maintained in a manner that would facilitate the production of a county level breakdown.  While address details are maintained in the TRS database, there is not a separate field for the county and...

Written Answers — Department of Finance: Pensions Data (21 Mar 2017)

Michael Noonan: I am informed by Revenue that an individual in a defined contribution pension savings arrangement has the option of putting the funds accumulated under the arrangement into an Approved Retirement Fund (ARF) on retirement, subject to conditions. Where such an individual is under the age of 75 at the time of exercising the option and does not meet the requirement of having a minimum...

Written Answers — Department of Finance: Non-Principal Private Residence Charge Administration (21 Mar 2017)

Michael Noonan: I am advised by Revenue that the applicable provision giving a right to repayment of tax is Section 865 of the Taxes Consolidation Act (TCA) 1997, where a person has paid an amount of tax which is not due. However, as I advised in my responses to PQ numbers 130 and 156 of 14 February 2017 and PQ number 170 of 7 March 2017, Section 865 (4) of the TCA provides that that right is subject to the...

Written Answers — Department of Finance: Bank Guarantee Scheme Data (21 Mar 2017)

Michael Noonan: The information requested by the Deputy is set out in the table: Bank Commencement date Amount at commencement Maximum amount of guarantee Expiry date Amount at expiration Anglo/IBRC Sept 2010 €10bn €37bn (Feb 2011) Feb 2013 €16bn AIB Nov 2010 €5bn €15bn (Dec 2010 to Apr 2011) Jan 2013 €1m BOI Dec 2010 €10bn...

Written Answers — Department of Finance: Tax Code (21 Mar 2017)

Michael Noonan: As the Deputy is aware, during the Finance Bill Committee Stage Debates in both the Dáil and the Seanad, my colleague, Minister of State Eoghan Murphy TD, gave a commitment that betting duty would be examined as part of the Tax Strategy Group process in 2017.  I can inform you that officials in my Department are in the early stages of examining the area...

Written Answers — Department of Finance: Insurance Costs (21 Mar 2017)

Michael Noonan: Concerns relating to increasing costs of insurance in the hospitality sector have been brought to my attention. However, neither I, nor the Central Bank can directly influence insurance pricing as these matters are of a commercial nature, and are determined by insurance companies based on an assessment of the risks they are willing to accept.  This position is reinforced...

Written Answers — Department of Finance: Pensions Data (21 Mar 2017)

Michael Noonan: I propose to take Questions Nos. 218, 223 and 224 together. I am advised by Revenue that they have contacted the Deputy's office directly to provide the requested documentation in relation to questions 13529/17 and 13554/17. The following documents were provided in response to question 13529/17: FAQ 1 Established Civil Servants including Prison Officers Who Pay Modified Class B PRSI FAQ 2...

Written Answers — Department of Finance: Vehicle Registration (21 Mar 2017)

Michael Noonan: Vehicle registration tax (VRT) is charged on a motor caravan (camper van) at the rate of 13.3% of its open market selling price (OMSP). The OMSP of a used motor caravan is the price, inclusive of all taxes and duties, which, in Revenue's opinion, it might reasonably be expected to fetch on first arm's length retail sale in the State.  The OMSP will be determined by Revenue at the...

Written Answers — Department of Finance: NAMA Operations (21 Mar 2017)

Michael Noonan: As the Deputy will be aware, NAMA does not own property, and its role in relation to property is as a secured lender. As a result, where properties and assets over which NAMA holds a charge are being sold, the sales process is managed by the property owner or by a receiver. NAMA does not manage the sales process, but NAMA guidelines require that a property is openly marketed, with the...